CALCULATOR MESSAGE MY INSTRUCTOR STANDARD VIEW PRINTER VERSION BACK Exercise 18-16 (Part Level Submission) On March 10, 2017, Grouper Company sold to Barr Hardware 210 tool sets at a price of $52 each cost $31 per set) with terms of n/60, fobshipping point. Grouper allows Barr to return any unused tool sets within 60 days of purchase. Grouper estimates that (1) 10 sets will be returned, (2) the cost of recovering the products will be immaterial, and (3) the returned tools sets can be resold at a profit. On March 25, 2017. Barr returned 7 tool sets and received a credit to its account Prepare journal entries for Grouper to record (1) the sale on March 10, 2017 (2) the return on March 25, 2017, and (3) any adjusting entries required on March 31, 2017 (when Grouper prepares financial statements). Grouper believes the original estimate of returns is correct. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts. No. Account Titles and Explanation Credit to records ) (To record cost of goods sold) (To record sales returns) to record cost of returned (Adjusting entry for returns) (Adjusting entry for cost of goods sold) Click if you would like to show Work for this questions Open Show Work